Alphabet (NASDAQ:GOOGL) Price Target Lowered to $205.00 at Mizuho

Alphabet (NASDAQ:GOOGL) had its price objective lowered by analysts at Mizuho from $230.00 to $205.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Mizuho’s target price points to a potential upside of 34.14% from the company’s previous close.

GOOGL has been the subject of a number of other research reports. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Jefferies Financial Group lowered their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $206.51.

Alphabet Stock Down 3.7 %

Shares of NASDAQ:GOOGL opened at $152.82 on Wednesday. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm’s 50 day moving average price is $169.50 and its 200 day moving average price is $176.25. The stock has a market cap of $1.86 trillion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts predict that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Community Bank N.A. lifted its position in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd increased its stake in shares of Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after purchasing an additional 14,262 shares during the period. Absolute Capital Management LLC raised its holdings in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after buying an additional 258 shares during the last quarter. Permanent Capital Management LP acquired a new position in shares of Alphabet during the fourth quarter worth approximately $273,000. Finally, Glass Wealth Management Co LLC grew its holdings in Alphabet by 4.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after buying an additional 1,580 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.